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Does repsossession = bankruptcy??


jellytotters
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Hi all,

 

Quick question does repsossession lead to bankruptcy?

 

My situ is that I purchased a house with a now ex friend he decided to stop paying, I Have been paying for the last 3 months now and there is arrears building. Unfortuantely I do not live at the property so am paying for 2 houses in a sense (renting currently in other home). Running out of money to run 2 properties and see this as my only option?

 

Any ideas on what I can do?

 

Thanks all!!

:confused::confused::confused::confused::confused:

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you would be better selling the property than going to possession if you can not live there - is your friend living in the property?

Please note I am not an expert - I am not offering opinions or legal help - Please use all the information provided on the site in FAQ- step by step instructions and library- thanks Jansus:)

http://www.consumeractiongroup.co.uk/forum/images/icons/icon1.gif

offer from A&L 24/8/07 - after case stayed

 

"What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

 

 

PROUD TO BE AN ORANGE

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